finance student at Veliko Turnovo University, says: ‘In
contrast to the inadequate conduct of the Bulgarian government,
there is no logic to the argument that Bulgarian-Serbian business
relations should suffer because of the misjudged recognition
of the unilateral declaration of Kosovo’s independence.’
Simeonov in undertaking a three-month internship at the
Regional Chamber of Economy Nis. This is possible
because he is a member of the international students
organisation AIESEC, which, according to him, ‘is the
largest international platform for the development of
young people’s leadership skills, enabling them to positively
influence society’.
Photos: ELITSA GRANCHAROVA
Bulgarian journalists also visited the Regional Chamber of Economy in Nis (RCEN), the administrative hub of the Nisava district.
The Nis Regional Chamber of Economy is a member of the Serbian Chamber of Economy. It covers a 7867 sq m area in south-eastern Serbia, including three administrative regions: Nisavski, Pirotski and Toplicki (total population: 650 000 residents in 787 settlements). The head office is in Nis, with branch offices in Prokuplje and Pirot.
On March 28, the first of two Bulgarian-Serbian business meetings took place in the RCEN building. RCEN serves as a mediator between local and foreign businesses, other organisations, the country’s labour market and the government. According to Madic, it therefore represents “the common economic interests of the region”. RCEN invited journalists to the recent event to discuss the willingness of Serbian businesses, institutions and economic agencies to co-operate with Bulgaria. A second meeting later this month will be attended by Bulgarian businessmen.
Serbian officials said that Bulgaria’s recognition of Kosovo was a political issue that would not undermine bilateral economic ties. According to RCEN representatives, relations with Bulgaria are a vital asset for several reasons. Firstly, Bulgaria is already a European Union member state, so healthy Bulgarian-Serbian links would ease the Serbian economy’s adjustment to EU requirements. Unemployment in the Nisava district is already quite high – about 25 per cent – and so attracting more foreign investments would also give more jobs to locals.
In addition to Bulgarians, Serbian journalists also attended the business meeting, opened by RCEN general secretary Zoran Stojanovic. Bulgaria’s general consul in Nis, Georgi Yurukov, also addressed the conference and stressed the positive state of Serbia-Bulgarian business dealings in Serbia.
The meeting presented opportunities for close cross-border inter-company co-operation as well as possibilities for internships between students “as an expression of corporate social responsibility and willingness for progressive development”.
Bulgarian investments in Serbia during the period 2002/2008 amounted to 110 million euro, making Bulgaria the 10th-largest investor in Serbia. The top five are Norway, Germany, Greece, Austria and the Netherlands.
Economic ties between Bulgaria and Serbia have been growing steadily over the past several years. Despite Serbia’s import-export deficit, exports from the Nis region have grown constantly. The Bulgarian-Serbian trade balance for 2007 was $795.5 million, while the deficit was $360 million. For the Nis region the trade balance was $40 million and the deficit, according to 2006, decreased from $18 million to $2 million for 2007. Exports increased by 120 per cent.
Many Bulgarian entrepreneurs have expressed an interest in the privatisation of Serbian companies and, in particular, investing in the Nis region. RCEN presented a list of 29 Serbian companies purchased by Bulgarian firms. These included Intertrust (eight Serbian firms purchased), Rubin Pleven (one), Brikel Gulubovo (one corporation, Trayal Krusevac), Master Stil Bulgaria (one), Minna Kompaniya EOOD (two), Kaolin Senovo (three), Kornikom Sofia (one), Mediasvyat (four), Erida Trade (one), Bultsvyat (two), Cestim (one), Monbat and Prista Oil (building Monbat Indjija), Ilian Kostov (building Vili Group Dimitrovgrad) and Sofarma (one).
Meanwhile, as one of the main European Commission (EC) initiatives aims at improving relationships between neighbouring countries, during the Bulgaria-Serbia 2004/06 programme, 16 projects in the Nis region were approved and co-financed by the EC. RCEN realised three of them.
RCEN also hosts various international professional ventures and co-operates with Nis University. As a result of this project, Pavlin Simeonov, a Bulgarian student from Veliko Turnovo University, is working for three months at RCEN. Simeonov actively assisted in organising the journalists’ meeting on March 28. He is also preparing a meeting planned to bring Bulgarian businesses to RCEN at the end of April. There, they will be advised on how to invest in Serbia.
“In this way we strive to support our companies and students prepare faster for active participation in the EU market,” RCEN said.
Bulgarian investments in Serbia
• 29 Serbian companies were bought by 14 Bulgarian firms
• Bulgarian business invested 110 million euro in Serbia in the period 2002/08
• Trade exchange between Bulgaria and Serbia in 2007 reached 20 million euro
• 10 Bulgarian investors operate in Nis region alone
• In the past four years, trade between Serbia and Bulgaria increased by 47.5 per cent
• Four per cent of consumer goods on the Serbian market are Bulgarian
• 500 euro is the price to register a foreign company in Serbia
• Each foreign investor receives $2500 from the Serbian government for each employed Serbian worker
Source: Regional Chamber of Economy Nis
